- X4 Pharmaceuticals ( NASDAQ: XFOR ) shares fell 9% premarket on Wednesday after the therapeutics firm priced an $65M securities offering.
- The offering includes 52.3M shares of its common stock, pre-funded warrants to purchase 6.8M shares, and accompanying Class C warrants to purchase 29.55M shares at an exercise price of $1.50/share of common stock - issued at a price to the public of $1.10/share and accompanying Class C warrant.
- Underwriters have been granted a 30-day option to purchase up to an additional 8,865,000 shares of its common stock and/or Class C warrants to purchase up to an additional 4,432,500 shares of its common stock at the public offering price, less underwriting discounts and commissions.
- Gross proceeds are expected to be ~$65M or ~$74.8M if the underwriters exercise their option in full.
- The offering is expected to close on or about Dec. 9, 2022.
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X4 Pharmaceuticals stock dips after pricing $65M securities offering